Import PS prices in China and Southeast Asia have been mostly on a stable to firm track since they hit a more than one-year low in around early December. Despite healthy demand and low inventories, sellers either kept their offers stable or applied modest hikes in the midst of slowly rising spot styrene prices...

Turkish PE players reported to have felt a visible impact of the restriction on the use of plastic bags on PE trade although it has been only a few weeks since the compulsory fee of TRY0.25 was implemented by the Ministry of Environment and Urban Planning...

In Europe, LDPE and LLDPE prices continued to hover at around their multi-year lows as the downward trend of PE was extended into 2019 with January prices witnessing decreases of €20 -€40/ton. Lingering holiday lull and overall ample supplies kept trading thin...

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Bearish trend pervades Mid-East and African PE markets in 2018

PE prices have tracked a downward trend for the most part of 2018 in the Middle East and Africa. Local and import markets have been falling for the last 8- 9 months in a row. ChemOrbis Price Indices currently represent the lowest levels of the past few years in many countries across these regions.

Saudi Arabia’s local market falling for 8 months

In Saudi Arabia, a major producer has revealed its monthly PE offers to its domestic market with decreases since May. Accordingly, December was the 8th consecutive month the downward trend extended its losing streak.

Across the Middle East, a similar picture has been in place in terms of import offers to United Arab Emirates, Lebanon and Jordan. ChemOrbis Price Index suggests a cumulative decrease of 16% for HDPE on CIF Middle East basis since March, when prices hit their highest levels of the last three years. The CIF Middle East based prices for LDPE and LLDPE have also witnessed a total decrease of 16-18% in the last 9 months, with the weekly average currently standing at its lowest level since ChemOrbis started taking records in 2014.

Import PE offers in Egypt on a decline in the last 3 quarters

ChemOrbis Price Index also reveals that import PE prices have been steadily weakening since April in Egypt. The cumulative loss has been the largest in the LDPE market at 19% and then in the LLDPE market at 12% as the weekly averages currently represent the lowest levels since ChemOrbis began indexing in 2012. The downturn in the HDPE market has been somewhat limited at 7% in the same timeframe.

Import LDPE, LLDPE hit lowest levels in North Africa

Across Libya, Tunisia, Algeria and Morocco, import prices have been steadily losing ground as well. The overall loss has reached 17% since May for LDPE and LLDPE, with current prices indicating the lowest levels seen 2014, according to the weekly average of ChemOrbis Price Index.

PE offers from Nigeria’s ELEME hit new lows

Likewise, overall import PE prices in Kenya and Nigeria have fallen by 16-17% in the last three quarters. Local LLDPE and HDPE prices of Nigerian ELEME have also reached their lowest levels recently since 2014.